MedTech Startup Axio Biosolutions Raises Rs 36 Cr in Funding led by Omidyar Network India

Axio Biosolutions, that claims to be the first Indian company to get USFDA clearance for a wound care product, on Thursday said it has raised Rs 36 crore in Series B-1 round of funding led by Omidyar Network India, along with participation from existing investors.

The company's existing investors include Accel, University of California and Ratan Tatas UC-RNT Fund, Chiratae Ventures.

The city based company, with its manufacturing plant in Ahmedabad, plans to use the latest funding to expand its footprint, especially in USA and Western Europe, Axio Biosolutions said in a release.

It said the company will continue to develop novel surgical and wound care products for global wound-care market poised to touch USD 24.8 billion by 2024 from USD 19.8 billion in 2019.

"As the first global wound care brand from India, we have plans to explore new markets and introduce more products in the wound care and drug delivery space.

With Axiostat receiving USFDA clearance, we are all set to enter the US market this year.

Soon, we also will be launching our products direct to consumers for emergency trauma use," AxioBiosolutions Founder and CEO Leo Mavely said.

In the previous round,Axioraised Rs 47 crore from UC-RNT, Accel and Chiratae Ventures, the company said, adding that the current round (Series B1 round) is an extension of this.

The total funding Axio received so far,including Series A round of funding, is around Rs 105 crore.

Medtech Startup Axio Biosolutions Raises $7.4 Mn Via Ratan Tata's RNT Capital

Medtech startup Axio Biosolutions raised USD 7.4 million funding in Series B round from Ratan Tata's RNT Capital, which will be used for expansion to new markets, and development of high-impact medical products, reported ANI.

Apart from the Tata, existing investors Accel Partners and IDG Ventures India also participated in this round of funding.

Founded by Leo Mavely and Ashish Pandya, Axio is the first Indian company to launch an emergency haemostat for trauma care. Its flagship invention -- Axiostat, is a patented and CE-approved product that has prevented countless deaths due to haemorrhage and grievous injuries.

[caption id="attachment_115866" align="aligncenter" width="700"] Battlefield proven Military Variant of Axiostat currently used by Army, Paramilitary of India and abroad[/caption]

The first-aid dressing stops uncontrollable bleeding within just 2-3 minutes of its application, thus saving lives. Axiostat is the de-facto product of Indian armed forces after being used in the surgical strike to save the lives of soldiers and is now an essential part of their field kit. The product caters to the Indian Armed Forces, BSF, NSG, para-military forces, hospitals and emergency services in India and across the globe, and for this we have put Axio among India's 9 Top Defence Tech Startups.

"Uncontrolled bleeding is one of the leading causes of death from traumatic injuries. We are grateful to make a meaningful impact in this space by saving lives of innocent victims. The current round of funding will help us expand into new markets and introduce more products in the wound care and drug delivery space", said Leo Mavely, Founder and CEO of Axio Biosolutions.

Headquartered in Boston, Axio Biosolutions has its corporate office in Bengaluru and GMP-certified manufacturing facility in Gujarat. The company has built a strong R&D structure, with multiple patents to its credit in the wound healing, mucoadhesive drug delivery, and hemostats space.

In September 2016, Axio expanded its operations to UK and with that it expanded its footprints in thirteen countries including Europe, Middle-East and Africa, reinforcing its commitment to address the unmet wound care challenges across the globe.

Talking about Ratan Tata, he recently announced his ₹900 million plan to fund in such Indian startups in which no other investors like to invest. The funding will be made through his Tata Trust’s FISE or the Foundation for Innovation and Social Entrepreneurship, a social impact fund as well as a business incubator.

Medtech Startup Axio Biosolutions Raises $7.4 Mn Via Ratan Tata's RNT Capital

Medtech startup Axio Biosolutions raised USD 7.4 million funding in Series B round from Ratan Tata's RNT Capital, which will be used for expansion to new markets, and development of high-impact medical products, reported ANI.

Apart from the Tata, existing investors Accel Partners and IDG Ventures India also participated in this round of funding.

Founded by Leo Mavely and Ashish Pandya, Axio is the first Indian company to launch an emergency haemostat for trauma care. Its flagship invention -- Axiostat, is a patented and CE-approved product that has prevented countless deaths due to haemorrhage and grievous injuries.

[caption id="attachment_115866" align="aligncenter" width="700"] Battlefield proven Military Variant of Axiostat currently used by Army, Paramilitary of India and abroad[/caption]

The first-aid dressing stops uncontrollable bleeding within just 2-3 minutes of its application, thus saving lives. Axiostat is the de-facto product of Indian armed forces after being used in the surgical strike to save the lives of soldiers and is now an essential part of their field kit. The product caters to the Indian Armed Forces, BSF, NSG, para-military forces, hospitals and emergency services in India and across the globe, and for this we have put Axio among India's 9 Top Defence Tech Startups.

"Uncontrolled bleeding is one of the leading causes of death from traumatic injuries. We are grateful to make a meaningful impact in this space by saving lives of innocent victims. The current round of funding will help us expand into new markets and introduce more products in the wound care and drug delivery space", said Leo Mavely, Founder and CEO of Axio Biosolutions.

Headquartered in Boston, Axio Biosolutions has its corporate office in Bengaluru and GMP-certified manufacturing facility in Gujarat. The company has built a strong R&D structure, with multiple patents to its credit in the wound healing, mucoadhesive drug delivery, and hemostats space.

In September 2016, Axio expanded its operations to UK and with that it expanded its footprints in thirteen countries including Europe, Middle-East and Africa, reinforcing its commitment to address the unmet wound care challenges across the globe.

Talking about Ratan Tata, he recently announced his ₹900 million plan to fund in such Indian startups in which no other investors like to invest. The funding will be made through his Tata Trust’s FISE or the Foundation for Innovation and Social Entrepreneurship, a social impact fund as well as a business incubator.

Bangalore Based Startup, Axio Biosolutions, A Medtech Company, Expands Its Operations to UK

Bangalore based start-up, Axio Biosolutions, a medtech company announced today that it has expanded its operations to UK. With this launch, Axio will be present in thirteen countries including Europe, Middle-East and Africa, reinforcing its commitment to address the unmet wound care challenges across the globe.

Funded by Accel Partners, IDG Ventures and GVFL, Axio is a global name that uses innovative medical technology to create breakthrough products and save people’s lives. Axio’s flagship product, Axiostat is an advanced wound management product that has received an overwhelming response from the time it was launched and is being successfully used by Military and para-military forces and emergency services world-over.

This 100% chitosan haemostatic dressing controls severe haemorrhage within minutes through its active adhesion to the trauma wound. The award winning and CE approved, Axiostat will be launched in UK market through The Emergency Services Show, scheduled on 21st and 22nd September 2016 and Trauma Innovation UK, which is Europe’s Largest Forum for military and emergency medicine scheduled on 27th and 28th September 2016.

Speaking on the occasion, Leo Mavely, CEO of Axio said, ‘Axiostat has been saving lives of accident victims and defense forces for many years now in India and world-over. We are delighted to expand our presence and bring Axiostat to UK & European Market. With our partner - Western Medical Supplies UK we expect to serve a large market, which has shown a lot of demand for effective haemostatic products.”

Uncontrolled bleeding is one of the leading causes of death from traumatic injuries. With growing number of accidents, increased conflicts, nascent or non-existent pre-hospital care, an effective haemostat has become an inevitable first-aid tool for emergency services across the globe.

Axiostat is regularly used by Indian Armed forces, BSF, NSG, and other para-military forces, as part of their defense kit, during their operations at the border and conflict zones such as North-East. The Axiostat dressing was famously used in the 2014 Russia-Ukraine conflict, which earned Axio global recognition.

Axio’s customers also include numerous government hospitals and reputed private institutions such as AIIMS, Manipal, Apollo, Breach Candy and Fortis. In the $1.7 billion global haemostat market, which is expected to become $2.5 billion by 2020, Axio today is a name to reckon with.

The company’s vision is to become the first choice for any customer looking for advanced, affordable wound care solutions worldwide. To make that happen, Axio has a fully functioning modern Research and Development (R&D) wing registered in Bangalore with a GMP, ISO 13485 manufacturing facility situated in Ahmedabad, Gujarat.